Question: Suppose that during each year, a given mutual fund has a 50 percent chance of beating the Standard & Poors 500 Stock Index (S&P Index).

Suppose that during each year, a given mutual fund has a 50 percent chance of beating the Standard & Poor’s 500 Stock Index (S&P Index). In a group of 100 mutual funds, what is the probability that at least 10 funds will beat the S&P Index during at least eight out of 10 years?

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